•Engaging over 47,000 citizens in historic share sale
ADDIS ABABA – Ethiotelecom has successfully mobilized over 3.2 billion Birr, selling 10.7 million shares to more than 47,000 citizens in a significant step towards democratizing investment opportunities in the country.
This milestone comes after a four-month share sale campaign launched as part of the company’s transformation into a shareholding entity under the Ethiopian Commercial Code.
The move is part of Ethiotelecom’s broader strategy to align with Ethiopia’s economic reforms and accelerate the growth of the local capital market. Ethiotelecom CEO Frehiwot Tamiru highlighted that the digital sale was designed to be accessible, transparent, and secure for all citizens, ensuring a fair and equitable process.
“The initial target was to conclude the sale by January 3, 2025. However, following discussions with relevant government agencies and the Ethiopian Capital Market Authority (ECMA), the deadline has been extended to February 14, 2025. This gives citizens more time to participate in this unprecedented opportunity to invest in a national institution,” Frehiwot noted.
The sale, which began on October 16, 2024, marks a new chapter for Ethiotelecom, which has a proud legacy of 130 years of service to the nation. As part of the government’s homegrown reform agenda, the sale reflects the commitment to foster inclusive wealth and create sustainable growth through broader public involvement in national investments.
By conducting the share sale digitally, Ethiotelecom has made the process easier for citizens across the country to invest, regardless of location. This digital approach is also a key step towards realizing Ethiopia’s vision for a digital economy and society, allowing the company to play a pivotal role in the country’s transformation.
Ethiotelecom is offering a minimum of 33 shares (worth 9,900 Birr) and a maximum of 3,333 shares (worth 999,900 Birr), with the aim of making investment opportunities accessible to a wide segment of the population.
Frehiwot emphasized that the share sale supports the government’s broader economic vision, which includes strengthening the local capital market and providing citizens with the tools to build wealth. “This process is not just about selling shares, it’s about involving ordinary Ethiopians in shaping the future of our economy,” she said.
Looking ahead, Ethiotelecom plans to list on the Ethiopian Securities Exchange (ESX), providing an opportunity for citizens to trade their shares once the listing process is complete. The company will also announce further details regarding the sale of remaining shares in the future.
As Ethiotelecom embarks on this new chapter, it underscores its commitment to delivering both long-term values for its shareholders and contributing to the country’s broader economic goals.
BY MESERET BEHAILU
THE ETHIOPIAN HERALD SATURDAY 26 APRIL 2025
